Jevons paradox I doubt applies to software sadly for SWE's; or at least not in the way they hope it does. That paradox implies that there are software projects on the shelf that have a decent return on investment (ROI) but aren't taken up because of lack of resources (money, space, production capacity or otherwise). In general unlike physical goods usually the only resource lacking is now money and people which means the only way for more software to be built is lower value projects now stack up.

AI may make low ROI projects more viable now (e.g. internal tooling in a company, or a business website) but in general the high ROI and therefore can justify high salary projects would of been done anyway.